Government, Business

In Times of Trade War, Companies Get Creative to Avoid Tariffs

avoid tariffs Finished galvanized steel coils await shipment at ArcelorMittal Steel's hot dip galvanizing line in Cuyahoga Heights, Ohio. (Mark Duncan — Associated Press)

Facing the barrage of President Donald Trump’s tariffs, Steve Katz is ducking for cover in the trade-war version of a demilitarized zone.

Andrew Mayeda and Mark Niquette | Bloomberg News
August 10, 2018
Government, Business

US Trade Deficit Widens by $46.3 Billion in June

A container ship is unloaded at the Port of Oakland-trade deficit A container ship is unloaded at the Port of Oakland. (Ben Margot/AP)

WASHINGTON — The U.S. trade deficit widened in June for the first time in four months as exports fell and imports grew. Politically sensitive trade gaps with China, Mexico and Canada increased.

Paul Wiseman | AP Economics Writer
August 3, 2018
Government, Business

China Plans Tariffs on $60 Billion of Imports to Counter Trump

Flags of China and the U.S.-tariffs Getty Images

China announced a list of $60 billion worth of U.S. imports it plans to apply tariffs on should the Trump administration follow through with its latest trade threats.

Bloomberg News
August 3, 2018
Government, Business

China Says US Tariff Threat Runs Against Trend of the Times

Wang Yi China's Foreign Minister Wang Yi at the 51st ASEAN Foreign Ministers Meeting in Singapore on Aug. 2. (Joseph Nair/AP)

BEIJING — China’s foreign minister said Aug. 1 that U.S. threats to hike tariffs run against the trend toward globalization and will hurt U.S. businesses and consumers.

Joe McDonald and Annabelle Liang | Associated Press
August 2, 2018
Government, Business

Major Car Exporters Weigh Response to Trump’s Threat of Tariffs

Toyotas being checked before loading at Yokohama port In this 2014 file photo, a man checks Toyota cars parked before being loaded onto a cargo ship for export at Yokohama port in Japan. (Koji Sasahara/AP)

Trade officials from the world’s top car-exporting nations agreed to respond if President Donald Trump slaps new U.S. tariffs on autos and auto parts.

Bryce Baschuk | Bloomberg News
August 1, 2018
Government, Business, Editorial

Editorial: Turning Wheels and Trade Deals

It’s quarterly earnings season, a time of year when the Transport Topics business reporting team is immersed in revenue figures and profit-and-loss numbers. Based on the numbers for the second quarter, the industry is doing pretty well.

Transport Topics
July 26, 2018
Government, Business

Automakers’ Savings on Tax Cuts Could Be Wiped Out by Tariffs

Steel factory in Germany AP

Corporate America warned President Donald Trump that his trade war could end up erasing some of the savings reaped from the sharp cut in the corporate tax rate. The steel and aluminum tariffs could eat up anywhere from about a third to well more than half of the tax benefits in 2018, a Bloomberg analysis shows.

Laura Davison and Alexa N. Green | Bloomberg News
July 24, 2018
Government, Business

Mnuchin Shift to Trade Warrior Makes Him Likely G-20 Target

Johnny Louis/Sipa USA

The U.S. Treasury Department has gone from economic diplomats to trade warriors, a shift that leaves Secretary Steven Mnuchin once again exposed to broadsides from global counterparts as tensions grow ahead of a multilateral summit.

Saleha Mohsin and Theophilos Argitis | Bloomberg News
July 20, 2018
Business, Logistics

World’s Biggest Shipping Market Booms as Trade War Shrugged Off

Anthony Kwan/Bloomberg News

Whether it’s the price of hiring giant freighters to haul hundreds of millions of tons a year of iron ore and coal, or smaller carriers moving grains, there’s a theme emerging: dry- bulk shipping rates are rallying despite an escalating trade war that may yet damage China’s economy.

Alaric Nightingale | Bloomberg News
July 6, 2018
Government, Business

Trade Deficit Narrows to Smallest Since 2016 on Soybean Exports

SeongJoon Cho/Bloomberg News

The U.S. trade deficit narrowed in May to its smallest since October 2016 on a jump in exports of soybeans and aircraft amid the threat of retaliatory tariffs.

Sho Chandra | Bloomberg News
July 6, 2018